Daimler Financial Services, incorporating
Mercedes-Benz Financial Services, will begin implementing a new
system for administrating stock funding in the UK from November
this year.
The new wholesale finance system (WFS),
provided by stock funding specialist Sword Apak, will replace
Daimler’s current Datascan system, and is intended to be fully
operational by April 2013.
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Commenting on his company’s decision to adopt
a new stock funding solution globally, director of European
operations Thomas Weltrowski said that the nature of wholesale
finance made it easier to adopt one system across multiple
jurisdictions.
While it was important to recognise local
market idiosyncrasies in retail finance strategy, he said, “with
the exception of tax and law conditions, which we do recognise must
be taken into account, it is possible to have one approach to
wholesale even between very different developed markets.”
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